Of course they do. That's the goal.
Don’t just do something, stand there!
Seriously, you haven’t even had one quarter of negative GDP and we’re crying great depression? Ooooookay!
Verge? We’re there already...only the libs won’t acknowledge it.
Exactly. Bernanke has used the printing presses to keep interest rates low and monetize Barry's orgy of spending. Consequently, the dollar has dropped in value considerably, causing commodities prices to surge. This hurts already-ailing consumers, encourages uncertainty on the part of businesses and entrepreneurs, and decreasing the REAL return on investment.
But Bernanke, along with the rest of the Ruling Class, are neo-Keynesians who wouldn't understand sound economics if it walked up and pissed on their shoes.
Buy ammo.
So many countries are on the brink. The world is a powder keg and everyone is holding a match. I continue to feel that war will come on a global scale and that deaths will be measured in millions, perhaps hundreds of millions.
Not to worry They will manage to keep the market propped up with the continuing help of politicians, taxpayer money, and free-market sifling trading rules.
That combination has worked well for them for the last 2 1/2 years.
“....38,000 private sector jobs were created in May.”
that’s called collapse of the tax base ladies and gents...and we’re tapped out to the local loansharks.
Federal liquidation...the dissolution of Federal Gov’mt as we know it ...would appear inevitable.
FDR redux.
The Congress needs to seize on this and start forcing Obam,a’s hand on several issues. Specifically:
1. Demand substantial govt spending cuts. Point out (loudly) the abuses we’ve just heard about even today [e.g., federal employees making more than governors]).
2. Demand substantial and immediate expansion of oil exploration. Cancel oil leases issued to other countries and give them out only for the benefit of American oil supply. This includes the Gulf of Mexico, Alaska, and the new technologies being delayed by Obama. He must be called out on it. This would be a huge job creator.
3. Cancel visas for visiting foreign nationals taking American jobs of all kinds. Impose penalties on companies using off-shore contractors as replacement workers: $10/hr per head.
4. Cut capital gains taxes significantly (~25%) to encourage investment in American businesses; providing them with job-creating capital.
5. Phase out over 12-24 months the welfare policies that provide employment disincentives.
Each of these points should be have quantifiable jobs figures to be touted... and I’d expect all to be significant. I believe these to be the fastest ways to jump-start us. If anybody really wants to be President in 2012, start here.
I would also personally argue for serious deportation of illegals taking American jobs, but we’ve already lost that battle for the most part, and the five points above should be winnable in the arena of public discourse... if we have any GOP members with any backbone remaining.
All of us Freepers knew this in 2008.
It was true then and ZERO has only made it worse, while the MSM whistles past the graveyard. . . .
Given the state of the economy why would anyone want to give Obama a second term? However, the Republicans may succeed again in nominating a McCane/Bob Dole type candidate to please RINOs and “moderates” and give us another four years on the road to economic perdition.
0baminomics in action.
next up the "great leap forward" "barefoot" doctors, and backyard steel/aluminum smelting
What “Chief Economist” said this?
If we are in a depression as long as Obama is President MSM will never call it a depression.
Obama&Co. great, great depression.Just think of the damage they can do if he gets elected in round two.
China,Russia and Soros grins.